Valeant presents exchange offer to Allergan stockholders

Valeant Pharmaceuticals announced it has filed an exchange offer for the common stock of Allergan to Allergan stockholders.As per the offer, Allergan stockholders would be able to transfer each of their Allergan shares for $72 in cash and 0.83 Valeant common shares, or an amount of cash, or a number of Valeant common shares, with each case subject to proration, according to a press release from Valeant.